Energy Services of America (NASDAQ:ESOA) Announces Earnings Results, Beats Estimates By $0.01 EPS

Energy Services of America (NASDAQ:ESOA) posted its earnings results on Monday. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01, FiscalAI reports. The firm had revenue of $130.01 million for the quarter, compared to analysts’ expectations of $112.65 million.

Energy Services of America Stock Performance

Shares of NASDAQ:ESOA opened at $15.46 on Tuesday. The business has a fifty day moving average price of $16.42 and a 200-day moving average price of $14.95. Energy Services of America has a 1-year low of $7.84 and a 1-year high of $19.94.

Energy Services of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.04 dividend. This is an increase from Energy Services of America’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Energy Services of America’s payout ratio is currently 87.43%.

Insider Buying and Selling

In other Energy Services of America news, Director Marshall T. Reynolds sold 64,942 shares of Energy Services of America stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $15.70, for a total value of $1,019,589.40. Following the completion of the transaction, the director directly owned 1,260,431 shares of the company’s stock, valued at approximately $19,788,766.70. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Douglas V. Reynolds bought 6,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $16.26 per share, for a total transaction of $97,560.00. Following the purchase, the president owned 1,487,270 shares of the company’s stock, valued at approximately $24,183,010.20. This represents a 0.41% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 233,000 shares of company stock worth $3,813,537 in the last quarter. Corporate insiders own 44.68% of the company’s stock.

Hedge Funds Weigh In On Energy Services of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESOA. First Trust Advisors LP raised its stake in shares of Energy Services of America by 2.4% in the fourth quarter. First Trust Advisors LP now owns 38,954 shares of the company’s stock worth $318,000 after purchasing an additional 920 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Energy Services of America by 117.1% during the third quarter. Larson Financial Group LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 1,314 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Energy Services of America by 137.6% during the third quarter. BNP Paribas Financial Markets now owns 2,390 shares of the company’s stock valued at $25,000 after buying an additional 1,384 shares during the last quarter. Barclays PLC increased its holdings in Energy Services of America by 6.6% in the 4th quarter. Barclays PLC now owns 24,042 shares of the company’s stock worth $196,000 after buying an additional 1,499 shares in the last quarter. Finally, Man Group plc increased its holdings in Energy Services of America by 15.7% in the 4th quarter. Man Group plc now owns 16,770 shares of the company’s stock worth $137,000 after buying an additional 2,278 shares in the last quarter. 2.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings cut Energy Services of America from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Energy Services of America in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Energy Services of America currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

About Energy Services of America

Energy Services of America, Inc (NASDAQ: ESOA) is a provider of natural gas compression equipment and services to energy producers, pipeline operators, and landowners across North America. The company designs, manufactures, and distributes compression systems tailored to meet the needs of natural gas gathering, processing and transmission applications. Its offerings include the sale, lease, and repair of both new and reconditioned compression units, as well as aftermarket parts and field services that support ongoing system performance and reliability.

In addition to core compression services, Energy Services of America delivers turnkey solutions for pipeline operators and gas processors.